Citigroup Inc. Increases Stock Holdings in ForgeRock, Inc. (NYSE:FORG)

Citigroup Inc. grew its stake in shares of ForgeRock, Inc. (NYSE:FORG – Get Rating) by 235.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,290 shares of the company’s stock after buying an additional 60,533 shares during the period. Citigroup Inc.’s holdings in ForgeRock were worth $1,965,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of ForgeRock during the 1st quarter valued at about $36,000. Royal Bank of Canada lifted its position in shares of ForgeRock by 222.4% during the 3rd quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock valued at $27,000 after buying an additional 1,343 shares in the last quarter. Shell Asset Management Co. purchased a new position in shares of ForgeRock during the 4th quarter valued at about $50,000. Legal & General Group Plc purchased a new position in shares of ForgeRock during the 2nd quarter valued at about $56,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of ForgeRock during the 3rd quarter valued at about $40,000. 32.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut ForgeRock from a “c-” rating to a “d+” rating in a research report on Tuesday, February 7th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.80.

ForgeRock Stock Down 0.7 %

NYSE FORG opened at $20.03 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.13. ForgeRock, Inc. has a 12 month low of $14.13 and a 12 month high of $25.00. The stock’s 50 day moving average is $20.21 and its 200 day moving average is $20.87. The stock has a market cap of $1.77 billion, a PE ratio of -23.02 and a beta of 1.04.

ForgeRock (NYSE:FORG – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). ForgeRock had a negative return on equity of 17.32% and a negative net margin of 32.35%. The firm had revenue of $63.52 million during the quarter, compared to the consensus estimate of $61.29 million. Research analysts predict that ForgeRock, Inc. will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other ForgeRock news, EVP Peter M. Barker sold 122,163 shares of ForgeRock stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $20.24, for a total value of $2,472,579.12. Following the sale, the executive vice president now owns 91,241 shares of the company’s stock, valued at approximately $1,846,717.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Peter M. Barker sold 122,163 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $20.24, for a total transaction of $2,472,579.12. Following the transaction, the executive vice president now owns 91,241 shares of the company’s stock, valued at approximately $1,846,717.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Francis C. Rosch sold 10,076 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $19.91, for a total value of $200,613.16. Following the transaction, the chief executive officer now directly owns 545,742 shares in the company, valued at approximately $10,865,723.22. The disclosure for this sale can be found here. Insiders have sold a total of 367,806 shares of company stock valued at $7,446,844 in the last quarter. 31.80% of the stock is currently owned by insiders.

About ForgeRock

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ForgeRock, Inc, together with its subsidiaries, operates a digital identity platform to secure, manage, and govern the identities of customers, employees, partners, application programing interfaces (APIs), microservices, devices, and the Internet of things worldwide. It offers identity management products to automate onboarding/registration and progressive profiling, identity lifecycle and relationship management, identity provisioning and synchronization, user self-service, personalization, delegation, and privacy and consent management.